2020 Property Assessment Update Postponed
As part of the Ontario Government's Economic and Fiscal Update on March 25, 2020, the Hon. Rod Phillips, Minister of Finance, announced the Province's decision to postpone the 2020 Assessment Update, which would have seen the Municipal Property Assessment Corporation (MPAC) update the assessed value of every property in Ontario this year.
In lieu of providing municipalities with updated assessed values for 2021, MPAC will deliver property assessments based on the fully phased-in January 1, 2016 current values, which is the same valuation MPAC used for this year. For example, if your property value in 2020 was $300,000, municipalities will use this same value to calculate your property taxes in 2021.
MPAC will continue to conduct regular business, including updating property information, completing tax applications and managing Requests for Reconsideration and appeals.
If you have questions about your assessed value or the postponement of the 2020 Assessment Update, visit mpac.ca or call 1-866-296-MPAC (6722) or TTY: 1-877-889-MPAC (6722).
How are property taxes impacted?
The value of your property assessment does not directly impact the amount of property tax you will pay between 2017-2020. Your taxes are relative to other Englehart property owners' reassessed property values. Reassessments affect the way the tax levy is allocated among the various properties and property tax classes in the municipality (residential, commercial, industrial, farm and managed forest).
To learn more about how your property taxes are calculated, watch MPAC's How Your Property Tax is Calculated video.
How does MPAC assess properties?
To assess your property, MPAC analyzes property sales in your area. This method is called Current Value Assessment. For residential properties, the five main factors that account for the majority of your property's value include location, lot dimension, living area, age of property (adjusted for major renovations/additions), and quality of construction. For farm properties, MPAC looks at farmland, residence, residence land, farm outbuildings, and other buildings.
To learn more about how residential and farm properties are assessed, watch MPAC's videos:
Farm property owners can get more information to help them understand their assessment by viewing the Farm Property Assessment page on the MPAC website.
What if I do not agree with MPAC's assessed value?
When reviewing your property assessment, confirm the assessed value by considering if you could have sold your property for that amount on January 1, 2016. If the answer is no, you can appeal your assessment by filling a Request for Reconsideration (RfR) to MPAC. For more information, visit the MPAC website.
The deadline to file a RfR is printed on your Property Assessment Notice. To learn more about the RfR process, watch MPAC's video on The Request for Reconsideration Process.
For more information on how to file a Request for Reconsideration (RfR), visit the MPAC website.
How do I learn more?
If you want to learn more about how your property was assessed, see what information MPAC has on file, as well as compare your property to others in your neighbourhood, you can log on to the online self-service application on the About My Property website.
Farm property owners can also now view market trends and county maps showing the rates per acre and percentage increases for farms on About My Property website.
You can login to About My Property using the roll number and special access key that is on your assessment notice.
If you have any other questions about MPAC or your property assessment, you can visit MPAC or call them toll free at 1-866-296-6722.